Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites.

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UPDATED: Oct 30, 2020

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We offer New Mexico residents life insurance from several of the best NM life insurance companies. Life insurance is very similar from state-to-state, with a few exceptions, so expect your New Mexico life insurance rates to differ.

However, this guide should help you understand the differences in New Mexico life insurance as well as find resources in your state. We’ll also show you how to get the best life insurance in New Mexico.

Before we dive into this guide, find affordable New Mexico life insurance rates by clicking on our FREE quote tool above. Get started now.

Table of Contents

New Mexico Life Insurance Quotes

We offer New Mexico residents life insurance from several A-rated life insurance companies. Life insurance is very similar from state to state, with a few exceptions. This guide should help you understand the differences as well as find resources in your state.

Policy Cost – The premium (cost) you pay for your life insurance policy does not vary by state. It is the same regardless of which state you live in. Premiums are set by life insurance companies then approved by the State Insurance Department.

Company Availability – Not all companies are available in every state. For example, if a life insurance company has not filed its product or rates with your State Insurance Department, that company won’t be available in your state. Company availability changes often due to new filings.

Product Availability – There are instances where life insurance companies offer only specific products or riders in a state. For example, a company may offer a child insurance rider on their policy, but the feature may not be available in all states. These exclusions can be viewed by clicking on the life insurance companies in the list below.

New Mexico life insurance laws also offers residents a 31-day grace period, a guarantee of death benefits up to $300,000, and a timely payment of death benefits. 

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Life Insurance Rates in New Mexico

You may be wondering what to expect with New Mexico life insurance rates. In the chart below, you’ll find what the best life insurance companies in New Mexico charge based on age, marital status, and gender for non-smokers. However, it’s possible that your rates will be different, especially if you smoke. You may also need a New Mexico life insurance exam depending on your policy choice.

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You can also see how many life insurance companies there are in New Mexico versus the other western states.

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According to the chart, there are zero New Mexico life insurance companies that specifically do business within the state. However, that doesn’t mean fewer New Mexico life insurance options for you. You can still find the best life insurance in New Mexico by checking out our free quote tool on this page to find out exactly what your NM life insurance quotes will be.

New Mexico Guaranty Association

The New Mexico Life Insurance Guaranty Association is committed to protecting resident policyholders and beneficiaries in the event of an insurance company insolvency. The association is made up of all insurance companies licensed to sell life insurance, health insurance and annuities in the state. If an insurance company becomes insolvent (goes out of business), the association steps in to protect policyholders by continuing coverage and paying claims, up to defined limits.

In New Mexico, a life insurance policy is protected up to $300,000. This amount is the maximum benefit provided for any one life. In other words, multiple policies on any one person are limited to this amount. Also, the New Mexico life insurance department provides some legal protection.

New Mexico Life Insurance Contacts

Here is a list of all the necessary state contacts for residents with New Mexico life insurance claims and other related matters.

Guaranty Association

If you need information about a New Mexico life insurance or health insurance guaranty, contact the New Mexico Life Insurance Guaranty Association at 1-505-820-7355 or visit the website.

Insurance Department

For the latest updates from the New Mexico PRC Division of Insurance, you can call the New Mexico Department of Insurance phone number at 1-888-427-5772 or visit the website. Here, at the official New Mexico Department of Insurance, you can inquire about all things NM life insurance.

You can also obtain access to the New Mexico Office of Superintendent of Insurance Producer Licensing Bureau where you can learn the status of a producer’s New Mexico insurance license renewal. You may also be able to access information on the current New Mexico life and health insurance exam results of a producer as well.

Legal Info

QuickQuote is licensed to sell life insurance in New Mexico under Agency License Number 550105.

The licensed company principal is Tim Bain, Agent License Number 60201.

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New Mexico Life Insurance Companies

American General Life Insurance Company

Banner Life Insurance Company

Fidelity Life Association

Haven Life / MassMutual

John Hancock Life Insurance Company

Lincoln National Life Insurance Company

Metlife Life Insurance Company

North American Company for Life & Health Insurance

Pacific Life & Annuity Company

Principal Life Insurance Company

Protective Life Insurance Company

Pruco Life Insurance Company (Prudential)

Sagicor Life Insurance Company

The Savings Bank Life Insurance Company of Massachusetts (SBLI)

Transamerica Life Insurance Company

United of Omaha Life Insurance Company

Don’t wait — Use our free quote tool to get affordable life insurance rates in New Mexico. Get started now.